As the Coronavirus Pandemic continues to spread throughout the United States, citizens and businesses alike are facing unforeseen economic challenges. In the last four weeks, the number of unemployment claims has reached 22 million — roughly the net number of jobs created in a nine-and-a-half-year stretch that began after the last recession and ended with the pandemic’s arrival (Schwartz, 2020). More than 50% of small business owners in the U.S. say they will only be able to keep operating for up to three months under the current conditions, according to a new Goldman Sachs survey of more than 1,500 small business owners. Almost all owners, 96%, say their businesses have already been impacted by COVID-19 (Adamczyk, 2020).
While we all hope for life in the US to return to “normal” sooner rather than later, AFI urges all citizens to be proactive and seek further information regarding any governmental assistance programs that may be available. Whether you are newly unemployed, a fearful business owner, or simply struggling to make ends meet during this trying time, we hope the resources below can serve as some benefit:
- Unemployment Benefits:
- CARES ACT/FCCRA Unemployment Insurance – DOL – COVID-19
- USA.Gov Unemployment Resources – USA.Gov – COVID-19
- IRS Stimulus Checks – IRS.Gov – Stimulus Payments
- Small Business Assistance Programs:
Additionally, AFI encourages everyone to please continue following CDC guidelines regarding limiting the continued spread of disease through extensive hand washing, social distancing, and self-isolation if necessary. We will all get through this together and need to remain safe until then!
Adamczyk, A. (2020, March 20). ‘Are we going to be left behind?’ Where small business owners can go for help during the coronavirus shutdowns. In CNBC.com. Retrieved from https://www.cnbc.com/2020/03/20/where-small-businesses-affected-by-the-coronavirus-can-go-for-help.html
Schwartz, N. (2020, April 16). ‘Nowhere to Hide’ as Unemployment Permeates the Economy. The New York Times. Retrieved from https://www.nytimes.com/2020/04/16/business/economy/unemployment-numbers-coronavirus.html